TD Bank plans to sell some of its jumbo mortgages and a correspondent business to free up asset space under a new cap set by the OCC. Wells Fargo, meanwhile, appears to be nearing a release from its cap.
The settlement between Franklin Credit Management and the Massachusetts attorney general will require the servicer to cease collecting or attempting to collect on “zombie” second liens in the state.
It’s no surprise that Ginnie, and nonbank servicers, saw the biggest gains in the agency MSR market in the third quarter. Freedom Mortgage made noise growing its portfolio by nearly 20%. (Includes two data tables.)
With originations increasing, should mortgage lenders add workers or get by with what they have and pay overtime? Mortgage-banking employment is actually down compared to January.
Interest rates on mortgages increased in the past week even though the Fed is on a path to cut rates further. The movements are a reminder that mortgage interest rates don’t necessarily move in tandem with the Fed.
Deputy Secretary of Treasury Wally Adeyemo hinted that the government might reduce its support of the FHLBanks if they don’t put more funds toward affordable housing.
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